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correcting pledge

Former Member
Former Member $organization

Help!  I entered a three year pledge to the wrong campaign and I would like to correct that. But of course, I made this extra difficult because –

 

               The pledge was made last fiscal year (prior to June 30) AND

 

               I’ve entered a payment to it this fiscal year before discovering the error

 

Normally I would back out the pledge and reenter it again to the right campaign and back date it to June 30 – but if I do that, what happens to the payment I entered this FY?  Do I have to back that out as well and reenter it? And if so, do I need to back out the payment this year, fix the pledge in last year, and reenter the payment this year – in that order?

 

Guidance will be most appreciated.

 

 

____________________________

 

Julie P. Hamre

Staff Accountant

5301 Tuckerman Lane

North Bethesda, MD  20852-3385

www.strathmore.org

301-581-5136

jhamre@strathmore.org

In office Monday-Thursday

 

  • $organization

    Hello Julie,

    You will also need to back out the payment. You'll need to enter a negative amount that zeroes out the payment in both the pop up payment window and the payment field under "Contribution" tab in the contribution entry window and then re-enter the payment in your new pledge. 

    Make sure to consult with Finance on when to post this sort of adjustment as it can make the GL very tricky crossing fiscal years like that.

    Edit: You may also have to post the new pledge and the payment separately. Again, you need to loop Finance into this conversation.

    -Kate

     



    [edited by: Kate Powell at 9:16 AM (GMT -6) on 28 Jul 2016]
  • $organization in reply to Former Member

    That definitely looks correct. And sorry to miss the part where you are Finance =). My CFO and I are always sitting next to each other doing these adjustments so I'm just used to multiple people being in the same room. 

  • $organization

    I would also add the new pledge using the same contribution date as the one you are adjusting.

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Kate Powell
    Sent: Thursday, July 28, 2016 9:28 AM
    To: Robin Schweikart
    Subject: Re: [Tessitura Development Forum] correcting pledge

     

    Hello Julie,

    You will also need to back out the payment. You'll need to enter a negative amount that zeroes out the payment in both the pop up payment window and the payment field under "Contribution" tab in the contribution entry window and then re-enter the payment in your new pledge. 

    Make sure to consult with finance on when to post this sort of adjustment as it can make the GL very tricky crossing fiscal years like that.

    -Kate

     

    From: Julie Hamre <bounce-juliehamre9206@tessituranetwork.com>
    Sent: 7/27/2016 1:17:56 PM

    Help!  I entered a three year pledge to the wrong campaign and I would like to correct that. But of course, I made this extra difficult because –

     

                   The pledge was made last fiscal year (prior to June 30) AND

     

                   I’ve entered a payment to it this fiscal year before discovering the error

     

    Normally I would back out the pledge and reenter it again to the right campaign and back date it to June 30 – but if I do that, what happens to the payment I entered this FY?  Do I have to back that out as well and reenter it? And if so, do I need to back out the payment this year, fix the pledge in last year, and reenter the payment this year – in that order?

     

    Guidance will be most appreciated.

     

     

    ____________________________

     

    Julie P. Hamre

    Staff Accountant

    5301 Tuckerman Lane

    North Bethesda, MD  20852-3385

    www.strathmore.org

    301-581-5136

    jhamre@strathmore.org

    In office Monday-Thursday

     




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

  • Former Member
    Former Member $organization

    Thanks, Kate. That’s what I thought – it is a three step process:

     

                   Back out payment in current year

     

                   Fix pledge in prior year

     

                   Re-enter payment in current year

     

    And since I am Finance, I will definitely consult myself on making sure it gets transferred to our accounting system correctly!

     

     

    ____________________________

     

    Julie P. Hamre

    Staff Accountant

    5301 Tuckerman Lane

    North Bethesda, MD  20852-3385

    www.strathmore.org

    301-581-5136

    jhamre@strathmore.org

    In office Monday-Thursday

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Kate Powell
    Sent: Thursday, July 28, 2016 9:32 AM
    To: Julie Hamre
    Subject: Re: [Tessitura Development Forum] correcting pledge

     

    Hello Julie,

    You will also need to back out the payment. You'll need to enter a negative amount that zeroes out the payment in both the pop up payment window and the payment field under "Contribution" tab in the contribution entry window and then re-enter the payment in your new pledge. 

    Make sure to consult with finance on when to post this sort of adjustment as it can make the GL very tricky crossing fiscal years like that.

    -Kate

     

    From: Julie Hamre <bounce-juliehamre9206@tessituranetwork.com>
    Sent: 7/27/2016 1:17:56 PM

    Help!  I entered a three year pledge to the wrong campaign and I would like to correct that. But of course, I made this extra difficult because –

     

                   The pledge was made last fiscal year (prior to June 30) AND

     

                   I’ve entered a payment to it this fiscal year before discovering the error

     

    Normally I would back out the pledge and reenter it again to the right campaign and back date it to June 30 – but if I do that, what happens to the payment I entered this FY?  Do I have to back that out as well and reenter it? And if so, do I need to back out the payment this year, fix the pledge in last year, and reenter the payment this year – in that order?

     

    Guidance will be most appreciated.

     

     

    ____________________________

     

    Julie P. Hamre

    Staff Accountant

    5301 Tuckerman Lane

    North Bethesda, MD  20852-3385

    www.strathmore.org

    301-581-5136

    jhamre@strathmore.org

    In office Monday-Thursday

     




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!

  • Former Member
    Former Member $organization

    Absolutely!

     

     

    ____________________________

     

    Julie P. Hamre

    Staff Accountant

    5301 Tuckerman Lane

    North Bethesda, MD  20852-3385

    www.strathmore.org

    301-581-5136

    jhamre@strathmore.org

    In office Monday-Thursday

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Robin Schweikart
    Sent: Thursday, July 28, 2016 9:57 AM
    To: Julie Hamre
    Subject: RE: [Tessitura Development Forum] correcting pledge

     

    I would also add the new pledge using the same contribution date as the one you are adjusting.

     

    From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Kate Powell
    Sent: Thursday, July 28, 2016 9:28 AM
    To: Robin Schweikart
    Subject: Re: [Tessitura Development Forum] correcting pledge

     

    Hello Julie,

    You will also need to back out the payment. You'll need to enter a negative amount that zeroes out the payment in both the pop up payment window and the payment field under "Contribution" tab in the contribution entry window and then re-enter the payment in your new pledge. 

    Make sure to consult with finance on when to post this sort of adjustment as it can make the GL very tricky crossing fiscal years like that.

    -Kate

     

    From: Julie Hamre <bounce-juliehamre9206@tessituranetwork.com>
    Sent: 7/27/2016 1:17:56 PM

    Help!  I entered a three year pledge to the wrong campaign and I would like to correct that. But of course, I made this extra difficult because –

     

                   The pledge was made last fiscal year (prior to June 30) AND

     

                   I’ve entered a payment to it this fiscal year before discovering the error

     

    Normally I would back out the pledge and reenter it again to the right campaign and back date it to June 30 – but if I do that, what happens to the payment I entered this FY?  Do I have to back that out as well and reenter it? And if so, do I need to back out the payment this year, fix the pledge in last year, and reenter the payment this year – in that order?

     

    Guidance will be most appreciated.

     

     

    ____________________________

     

    Julie P. Hamre

    Staff Accountant

    5301 Tuckerman Lane

    North Bethesda, MD  20852-3385

    www.strathmore.org

    301-581-5136

    jhamre@strathmore.org

    In office Monday-Thursday

     




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!




    This message was sent automatically to you by www.tessituranetwork.com because you subscribed to the Tessitura Development Forum. You may reply to this message to post to the Development forum or visit the site to search, read and post to the forums. In the interest of keeping the forum posts from becoming cluttered, we encourage you to delete previous message text from your reply before sending. Thank you!